Sharry Singh
This Query has 7 replies

This Query has 7 replies

08 December 2024 at 02:18

Regarding PPF account guidance

Dear Financial Experts
Hope you're doing great. This is about my PFF account. Recently I found that my PPF account has been stopped due to pending KYC. I opened PPF around few years back when I was in India and then came in US. Then I was out of US for 2 years and then came back. I might plan moving back to India in 2-3 years which depends on my project extension.
(1) Does this means interest amount will not be deposited in my PFF account in 2025 since account is in stop status?
(2) Should I go to India to update KYC to change the account status?
(3) Recently I found that it's better to convert saving account in Bank A to NRO so I found a SB to NRO conversion form where I need to mention the date of status change from Resident Indian (RI) to Non Resident Indian(NRI). Is this date should be the first entry date to US OR 2nd entry date after 2 years?
(4) I have 2 other saving accounts lets call it Bank B & Bank C so do I need to convert all saving accounts to NRO or only Bank A is enough which has PPF account. Please note I don't have any income in any Indian bank account.

Kindly share your valuable advise and please add if there is anything else that might be helpful as well.

Thank you!


zeeldiv
This Query has 1 replies

This Query has 1 replies

If office has been shifted and old AC are also shifted, copper pipe purchased for reinstalling AC are to be capitalized?


Meghana Maggi
This Query has 1 replies

This Query has 1 replies

03 December 2024 at 18:35

Depreciation under SLM method

If a company purchases a battery and an inverter is it considered a fixed asset?
If yes then what is its useful life as per Companies act 2013?
And both battery and inverter liable to depreciation?


Daya
This Query has 1 replies

This Query has 1 replies

Cheques issued on 28th march but not cleared till 31st March.
How to pass journal entry for cheques in Transit in books of accounts.


Daya
This Query has 1 replies

This Query has 1 replies

is correct way to find out capital of individual on 31st march
sales A/c Dr
Income A/c Dr
profit from firm A/c Dr

To purchase A/c
To Expenses A/c
To Drawing A/c
To Loss A/c
To TDS/TCS/Advance Tax paid
and Difference amount to be treated as capital.

and 2nd Entry on 31st march profit or loss to be passed
in the case of profit
Profit and Loss A/c Dr
To Capital A/c
in the case of loss
Capital A/C Dr
To Profit and Loss A/c


Daya
This Query has 1 replies

This Query has 1 replies

capital equal to which assets of balance assets.


jagdish ahuja
This Query has 1 replies

This Query has 1 replies

26 November 2024 at 17:31

Redevolpment of bldg in mumbai

i own a flat in mumbai - my building is going for redevolpment soon
pls guide how will my accounts be updated with all the rent recd/corpus/shifting
charges /extra area be accounted
pls also guide if the amounts received will be treated as income or not
what happens to cost of my flat which is shown in my balance sheet
thanks PLS GUIDE
THANKS


Daya
This Query has 1 replies

This Query has 1 replies

25 November 2024 at 23:36

GST input on Mobile Handset

whether company /LLP can take GST input on mobile handset purchased for company. If GST input take then may arise any problem. please reply.


Daya
This Query has 1 replies

This Query has 1 replies

whether TDS under section 194J to be deducted inclusive of reimbursement of expenses, when professional charges and reimbursement of expenses received in same invoice. If any circular , please circular No. also.


Daya
This Query has 1 replies

This Query has 1 replies

25 November 2024 at 23:16

TDS on Material and Labour in same invoice

invoice received against Material and labour in same invoice, is TDS deductible inclusive of Material,
Please reply any notification on this matter please mention notification no. also.





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